June 15, 2020 The General Manager
Department of Corporate Services BSE Limited
Phiroze Jeejeeboy Towers, Dalal Street, Mumbai — 400001.
Scrip Code: 540268 Dear Sir / Madam,
Subject: Audited Financial Results for the quarter and year ended March 31, 2020.
In compliance with Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Board of Directors of Dhanvarsha Finvest Limited (“the Company”) at its meeting held today i.e., May 22, 2019 (commenced at 1.00 p.m. and concluded at 5.00 p.m.) has inter-alia, considered and approved the following:
i. Audited Standalone and Consolidated Financial Results of the Company for the quarter and financial year ended March 31, 2020 and took note of the Audit Reports thereon, submitted by the Statutory Auditors of the Company i.e., Haribhakti & Co.
LLP, Chartered Accountants.
ii. Recommended a final dividend of Rs.0.10 per Equity Share of face value of Rs.10/- each (i.e., 1%) for the financial year ended March 31, 2020, subject to the approval of the Members of the Company at the ensuing Annual General Meeting.
A copy of each of the Audited Financial Results, Auditors' report along with declaration on unmodified opinion is attached herewith.
We request you to kindly take the above on record. Thanking you.
Yours faithfully,
For Dhanvarsha Finvest Limited
M. Vijay Mohan Reddy Company Secretary Mem. No. ACS 49289
Encl: as above
@
Dhanvarsha
Dhanvarsha Finvest Limited
CIN: L24231MH1994PLC334457Regd. Off: 2nd Floor, Bldg. No. 4, DJ House, Old Nagardas Road,Andheri (E), Mumbai - 400069, MH. Tel: 022 2826 4295/ 6845 7200Icontact@dfltd.inIwww.dfltd.in
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Chartered Accountants
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AUDITOR'S REPORT
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11To the Board of Directors of Dhanvarsha Finvest, Li mite
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Report on the Au~it of the Standalon~ Fiinancial
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1 • 1 1 j,11 1We have audited the accompanying standalone annual financial results of Dhanvarsha Finvest Limited ("th
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Company") for the year ended March 31;2020 ("the State ent"), attacliecl herewith, being submitted by
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the Company pursuant to the requirement of1Regutation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('Listing Regulations').
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid Statement:
(i) is presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this
regard; and
(ii) gives a true and fair view in conformity with the recognition and measurement principles laid down in the applicable accounting standards, and other accounting principles generally accepted in India, of net profit and other comprehensive income and other financial information of the Company for the year ended March 31, 2020.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) specified under Section 143(10) of the Companies Act, 2013 ("Act"). Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Standalone Financial Results section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India ("ICAI") together with the ethical requirements that are relevant to our audit of the Statement under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit
evidence
we have
obtained is sufficient and appropriate to provide a basis for our opinion.Emphasis of Matter
We draw attention to Note 11 to the accompanyi_ng Statement, which explains that the extent to which COVID-19 pandemic will impact on the Company's operations and financial results, is dependent on future developments, which are highly uncertain.
Our opinion is not modified in respect of this matter.
Board of Directors' Responsibility for the Standalone Financial Results
This Statement has been prepared on the basis of the standalone annual financial statements. The Company's Board of Directors are responsible for the preparation and presentation of this Statement that give a true and fair view of the net profit and other comprehensive income and other financial information
of the Company in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in
,;,,r:.1-rn'ni:tz'IC1> with the provisions of the Act for safeguarding of the assets of the Company and for preventing
~.;&OiEf'l:~~>MQ frauds and other irregularities; selection and application of appropriate accounting policies;
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.-.;:~,.,.~lllli!;l'l'~~~IFHJ.\.'.!!l,[jl,~~!SK' P, Chartered Accountants Regn. No. AAC· 3768, a limited liability partnership registered In India (converted on 17th June, 2014 .. . akti & Co. FRN: 103523W)
Regist office: 705, Leela Business Park, Andheri-Kurla Road, Andherl (El, Mumbai • 400 059, India. Tet:•91 22 6672 9999 Fax:•91 22 6672 9777 Other offices: Ahmedabad, Bengaluru, Chennal, Hyderabad, Kolkata, New Delhi, Pune.
HARIBHAKTI
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Chartered Accountants I I, 11· •I Imaking ju~gments and estim!tes that are reasonable ~nd prudent; and design, implementation and
maintenante 1of a
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dequate int;rnal firian'cial controls, tliat were operating effectively for ensuring the
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accuracy and completeness of • , the accounting records, relevant to the , • • 1u 1 1 1 preparationIand presentation of the , 1
Statement that give a true and fair view and is free from material misstatement,
1whether due to fraud or
error.
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In preparing the Statement, the Board of Directors are responsible for assessing the
1 Company's ability to
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continue as a gomg concern, isc osmg, as app ica e, matters re ate to gomg concern an using t e going
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concern basis of accounting unless the Board of Directors either mte1ds to hqu1date the Company or to
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cease operations, or has no realistic alternative but to do 1so.
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The Board of Directors are also responsible for overseeing the Company's financial reporting process.
Auditor's Responsibilities for the Audit of the Standalone Financial Results
Our objectives are to obtain reasonable assurance about whether the Statement as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably
be expected to influence the economic decisions of users taken on the basis of this Statement.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
• Identify and assess the risks of material misstatement of the Statement, whether due to fraud or error,
design and perform audit procedures responsive to those risks, and obtain audit evidence that is
sufficient and appropriate to provide a basis fqr our opinion. The risk of not detecting a material
misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve
collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances. Under Section 143(3)(i) of the Act, we are also responsible
for expressing our opinion on whether the Company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by the Board of Directors.
• Conclude on the appropriateness of the Board of Directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If
we conclude that a material uncertainty exists, we are required to draw attention in our auditor's
report to the related disclosures in the Statement or, if such disclosures are inadequate, to modify our
opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
a e the overall presentation, structure and content of the Statement, including the disclosures, ther the Statement represent the underlying transactions and events in a manner that achieves entation.
HARIBHAKTI
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CO
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Chartered Accountants
We communicate with those charged with governance regarding, among other matters, the planned scope
and timing of the audit and significant audit findings, including any significant deficiencies in internal control
that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant
ethical requirements regarding independence, and to communicate with them all relationships and other
matters that may reasonably be thought to bear on our independence, and where applicable, related
safeguards.
Other Matters
a) The comparative financial information of the Company for the year ended March 31, 2019 included
in the Statement, are based on the previously issued standalone financial results prepared in
accordance with the Companies (Accounting Standards) Rules, 2006 audited by us whose report for
the year ended March 31, 2019 dated May 22, 2019 expressed an unmodified opinion on those
standalone financial results, as adjusted for the differences in the accounting principles adopted by
the Company on transition to the Ind AS, which have been audited by us.
Our opinion is not modified in respect of this matter.
b) The Statement includes the results for the quarter ended March 31, 2020, being the balancing figure
between audited figures in respect of full financial year and the published unaudited year to date
figures up to the third quarter of the current financial year which were subject to limited review by
us.
For Haribhakti & Co. LLP
ered Accountants Registration No.103523W / W100048 us am Nyati Partner Membership No.118970 UDIN: 20118970AAAACS2175 Place: Mumbai Date: June 15, 2020 Continuation Shl'ct
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Dhlnvanha ,1nv.1t Llml1..iR-.lstered ofltce:• 2nd Floor, 8utldln1 No, ◄, DJ Houw, Old ~11rd11 Road, Anclherl (East) Mumbai. ◄000'9 Mllw VIII Tel:• +91 22 61◄5 7200, [mall ID:, contact..it!td,ln, Webilte:, ~.dfltd,ln ' 1 I,
CIN:• LZ◄2l1MHl'9◄,LCJJ◄◄17
STATEMENT OF STANDALONE FINANCIAL RESULTS FOR THE QUAIITrll AND VtAII END(D MA~ l 1, 202()
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Quartff End..i Ynrtm,,i
P.rtlculan l1•Mlt•20 l1•Dec•19 JHur,t, lMl.ar•l() Jl•M.v•lt (Audit~) (Unaudtted) (Audited) ~lted) (Audited)
Rev-from operations
I Interest income
1JJ.29 1◄3.71 lJS.32 612.811 924.)7
II F'~s and commission Inc ~
◄3◄.32 3◄9.71 257.◄2 1,uo.10 "61,Y Ill Profit on sale of Investments lndudtn1 chanae In f1tr value pin/loss
2.76
us
2.8) 8.16 ~.t.? Iv Others1. 10 17.8◄ 2.11 28.91 IU.O
I Total R..-.nue from operations
571.47 SIJ,61 ◄97,61 1,910.04 l,90l,24
II Other
inco-13.63 o.s8 O,J7 19.◄I 26.0&
Ill Total lncomtt (1+11)
SIS.10 Sfl,19 491.05 1,929.52 1,92'.lZ
E,q,ensit5 I Finance costs
◄1,57 32.59 111.21 168.59 517.67
ii FeeJ and commission expe= 0.57 0.12
0.95 0.79 0.%
m Net loss on fair valUit chanaes ,
iv Impairment on financial Instruments (~tPd credit loss) 129.20 (26.65) (92.71) 33.67 290.21
V El1'4>(oyce benefits expenses 208.78 168.60 173.30 701.8◄ 516.M
vi Depreciation and amortization 22.09 10.20 9,93 44.65 16.60
vii Other expenses 130.92 119,52 52.87 ◄17.92 3'-4.n
IV TolllExpe~ !Jl.13 »4.Ja 255.55 1,371.46 1,636.61
V Profit before tax (Ill • IV) 51.97 204.81 2-42.50 558.06 242.71
VI Tuexp•nse:
i Current tax .U.03 45.79 8.13 in.sz 106.63
II Oefe-rred tax (26.59) (3.61) 44.02 (17.03) (77.JS)
Ill Tax adjustment for earlier years (7.12)
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VII Profit a ~ tax (t/-VI) l4.5l 166.61 190.35 "°9.&9 2U.◄l
VIII Other Comprehenslvtt Income
i Items that will not be rttlassified to profit or lcs, (1.66) J.-48 (1.66) J.-48
II Income tax relating to items that will not be reclassified to l)(Olit or loss 0.46 f0.97) 0.46 (0.97)
Other co~rehensive income (1.20) - 2.51 (1.20) 2.51
IX Tot.ii Comprehensive lncomit (VII ♦ VUIJ 33.33 166.63 192.16 o408.69 215.9"
X P•td up equity share capital (face valu. of Rs. 10/· ~ share) 1,350.78 1,350.00 1,150.00 1,350.71 1,150.00
Xl Other Equtty 3,119.11 2,664.74
XII Earnlnp per 1tqulty share (Not annwlis.d f0< tU Interim periods)
8HIC (Rs.) 0.26 1.23 1.sa 3.04 1,77 DIiuted (Rs.) 0.24 1.1-4 1.52 2.86 1.71 ll'liit 1)
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1, STATCMCNTO, STANOALotl! ASsm AND LIAIILITIES AS AT Mo\llCH 11, 20IO
(111,fnu~) AIAI AIAI ,11t1culan ,,.,.,.,-20 ll•Mlr•lt (Aucl!IN) (Audited)
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\ I ASS[TS 1 Fln1ndab Assets(a) Cu.hand cash f<!Ulvalents 16"52 )61,04
(bl 8'nk wl.lnces other than (I)• ~ ,n,9-4
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(c) Trade Receivable 117.64 0,65
(d)lom J,US,'2 ◄,S16,◄7
(e) lnvestlTlfflts tJ),41
(fl Other Flnal1cials Assets ))9.89 1.5-4
◄,22),92 4,191,U
2 Non flnandab Aslctts
(1) Current tax llRts (net) ◄1.67 )7,71
(b) ~I erred tax IS$CIS (net> 118.2◄ 122.90
(cl Propo,rty, l)lart And equipment 118.SJ 29,6'
(dl lnta"ilble ass.ts under development 11.SI 6S,07
(e) Capital Work ti l'nlgrffl 2U◄
ti) Ott-., 1ntan11lbl• aswts 142.17 46.97
(i) Other non-lin•nclals usets 27,2◄ 22.ll
(h) Non-current wets and disposal a,oups held for 11le SS,Jl
625,90 479,95
TOTAL ASSfTS .. , .... 9.12 5,)71,20
II LIABILITIES AND EQUITY UABILITIES
1 ffnandal Ll.lb!lltles (a) Trade PIYibles
1) total ouutandin11 dues of mlao ,nt,rprfses and small mtorprlses 1.12 6.10
11) total outstandln11-. of creditors other than micro entffJ)rlses and small m1«prllft 26.65 17.27
(b) Borrowln9, (Other th4n Debt Securities) 1,560.75 2,S◄ l,)2
(C) Othor rlnancul IUbRltles
36.26 43.19
2 Non,,fnlncfal U1bllllles 1,6)1,71 2,612.11
(a) Current tax llabtlltln(Net)
)).29 (b) Provisions
24.1◄ 12.97
(c) Othor non•flnanclal llabllllles
-40.79 17.61
EQUITY 99.91 100,SI
(a) uiulty Share capital
1,]50.71 1,)50.00 (b) 0th« Equity
1,76&.34 1,)14.7◄
),119.12 1,66"'.74 TOTAL U.UllffiES ANO EQUITY
4,1'49.&Z 5,)71.20 tP•a• 21 MBAI ~:.. •
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/2. STATEMENT OF STAND41.0NI!: CASH FLOW roR YW ENDED MUCH 31, 2020
A. CASH FLOW FROM OPERATING ACTMTIES: Net Profit Defore Taxes
Adjustment tor:
Interest Income from Fixed Deposits Profit on salo or Investment property Depreciation / AmOrtlsatlon Impairment on Financial Instruments Realised gain on Investments Unrealised gain on Investments Fee Income Reccsnlllon as per EIR Employee share based payment expenses Unrealised foreign exchar>Ke eain/loss
Partlcu!Jln
Operati"!I profit before wo,ktng capital ch&llles Movement tn worktns capital
(lncrease)/decrease in Loans
(lncrease)/Decrease In Other Financial Assets (lncrease)/Dea-ease In Other Assets (lncrease)/Decreue In Trade Receivable lncreaset(Decrease1 In Other Payables lncrease/(Oecrease) In Other Financial Ll>billtlos lncrease/(Decrease) in PrOYislons
Cash 1eMrated from Operations Income tax paid
Net cash from Operati"3 A<:tivities
B. CASH FLOW FROM INVESTING ACTIVffiES:
Purchase of Property, plant and equipment and Intangible Assets Proceeds from sale of Property, plant and equipment and Intangible ~ Purchase of investment at fair value through profit and loss account Proceeds from sale of hwestment at fair value throuih profit and loss acc1lunt Investment In suboldlary
Investment In Fixed Deposits having original maturity more than three-yea" Proceeds from sale of investment property
Interest Income from Fixed Deposits Net ca5h from/(utlllsed In) Investing activities
C, CASH FLOW FROM FINANCING ACTIVITIES:
Proceeds from Issue of share capital and share warrants Proceeds from / (repayment of) borrowln35 Payment of Lease Liability
Dividends paid fnctudins dividend distribution tax Net cash utlltscd In ffn1ncin1 actMtles
NET (DECREASE)/ INCREASE IN CASH AND CASH EQUIVALENTS Cash and cash equh-.lents at the be11lnnin11 of the financial year cash and c~h eqUM1lents at ond of the year
Rttoncili&tlon of cash and cash equfVlllents as per the mtemant of cash flow Cash and cash equivalents as per above comprise of the following
Balances with banks In Current accounts Cash on hand (including loreign currencies) Bank deposits with maturity of less than 3 months Total
-(Rs. In IAkhsl YNrEndod YHr Ended3l·Mar-20 3l·Mlr-19 (Audttedl (Audited) 558.06 242.71 (10,501 (0.01) (U7) (96.69) 41.65 16.60 33.67 290.n (7.11) (I.CM) 7.08 (70,16) 82.30 37.16 (0,04) 0.02 706.40 419.85 1,190.20 (105.81) (343.10) (1.◄5) 11,s.n1 (117.10) 37.7◄ 11.-46 (1.36) (58.76) 11,4,59 11.87 9,4◄ 1,400.98 4Ul.27 (aJ.nl (231.75) 1,317.25 196.52 (160.17) (112.80) 1.37 (1,995.01) (2,245.◄0) 1,874.74 2,600.00 (5.00) . (160.39) 60.00
.
10.50 0.01 (375.33) 2◄3.11 2.34 1,325.79 (1,093.66) 11.473.n> (2.43) (40,69) (1110.30) {1, 134.<M) (328.23) (192.52) 111.◄7 362.0◄ 250.57 169.52 362.0◄ Year Ended Yffl'l!:nded 31-Mar-1O 31-~r-19(Audited) (Aueltted) 168.16 361.25
1.36 0.79
J. T~o Comp.,r,y ha• ,dopted Indian .-Ccoun1ln1 St1-.dlrd1 (Ind AS'I notified under Section Ill of t/".e Co,,pa,)lts Act 2~J
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Aecounllnt St.tnd,f'dl) Ruic,, 2015 from April 01, 2019 a:,d Lh• ■HKll•• dtle of ~ tr,11>1t!on II Apr~ Of, 201a. Slich tnrisltlon tAJ btttl urrlcd WI ,.,.,,,,
-erstwhile Accountlna St&ndarm notified under theo Act, rud wfth roln-,nt r Jl01 lnuC'd thorftlnder ltld 1u1de!lr.es hsued !,y !hO ~ Bal'Jc o' ,..4.1 /C/L«i>-f'--,
referred 10 n "the PrC"Yfous GMl'J. Tho come1pond1na (ici,rt1 prowntl'd In tho10 flnuiclll r=II• llavC' btt-1 pr,:,area on Ille bHIS d v..e :Jtrv'.o.Gf ~ ~
fln&nClal results under prcvi0111 G.u? for the relt'Y,nt periods, duty restated to 111d AS. rne flaurt'S htvr been presented In KC,Orunc. wit/I 11W fv,...4'1. P " ~
for f~ncial statements for a Non·Bankfn11 finance Comp,1ny (NBfC) ~ 'Liancial stawrcnu are aawn u:, 111 c.ompl'a,,u d I.I',. Comi,r-Ai /;r;:¥1.l<r.l:A.rYJf
Standards) Rules, 2015, In Division Ill of Notllfutlon No. GSR 1072 (El daledOctobt-f 11, 201&, l!WC!d by~ Mfnfstr/ of C.0-po,ate JJ(aln, Gc,,e,-r~ r;I ..-~.
~- The at>ove financial r=lts "'"'" rl!Vf~ by U-e Audit Commttttt and appr ~ t1f the Soard o( l>ltcctors at IU /,1.e!!fins rw'.d on Jllf'le 15, 1.020. Tha ~-.¥-"DJ
Auditors of the Company have carried out audit of the afor~ld results and ra,s tss.uod, report ~eor.
5. The figures tor the la:st quarter or the current f'nancl.?I year and tor the ,rl.'YiOut financial year are thl! t>al.a,icir'!I l~rn b f ~ 1ud"ited r,s...,n., ,ir-..,:;ea ::L
the full flnancl.ll year and the publls.hcd year to cate ftaures up to the end of third quarter of the cur.-ent and prr,,Jais twr>Glal ~af wlllc!I wH t.b,IK: t o ~
rl!View by the statutory auditors.
6. Fee and comml»lon Income majorly Includes commission from syndication loon.
7. The Company has primarily two reportable buslneu ,eamenu namely fund based ACIMtfcs and AIMscry sc:rv'.as tor tne CJ.f-1,U,-and ::,erlod ~ IIYC11 ?:,
2020. The company publishl!sstandalont' llnancial rt111lts along with the consolidated financial rcsufU and n a«a'dance with Ind AS 1~ • ~ ~ t"-e
co~ny has d&losed the se~t fnl~r-,tton In :he cor.solld.ltC'd llnanctal results ol the Compar:y
8. AS required by paral!'aph 32 of Ind AS 101, net p,oflt reconciliation betwct'fl thl! fle.,es reported un~r PreviouJ GA/>P and Ind AS Is a s ~
Qµutetfndad
Particul•rs l1•Mu•f9
fAuc:f:-<1
Net Profit as per JG.UP (A) Sl~
Add/(Less): Ind AS adjustments
· Loan IOOI provisioning as per ECL model 97.41
• fair valuation of Equity Shares .
· Others S0.93
• Delttred tax on the above adjur.ments (40.3-4)
• Restaten'IE'l\t of previous year tax (Reier Note No 101 28.-48
Total Adjustments (B) 136.51
Net profit up.,-Ind AS (C) E (A·8) 190.35
Othl!f Compr<!ll.,,si...e Income
• Remeasurement of DC'fir,ed flfflefit scheme (J.<BJ
• Income ta• on abovE 0.'17
Total other compr<!llens!ve Income (DJ (2-511
Comprehensive Income u per Ind AS (C·DJ 192.U
9. AS required byparaeraph 32 of Ind AS 101, reconcfilat!on of cqultyasr~t~ in ecccrdance with Previous GAN' anct fr.dAS ts as Ul>d«!r:
Equity as per ICiAAP (A)
(Add)/Less: Ind AS adjustments
• Loa, loss pro-i,loning as per ECl rnoocl
· Fair valuation ol Eq.,ity Shares
• Loan upfron\ ftts rcc,gnltfon as per EIR m:>del
• lnttt01t Recasn,11on M Credit Impaired a:ssea
• Def'ured Taxes on tile a!>ove edjustmcnts , Restatement o/ error in Tax
Total Incl AS &djustlnffllS (8)
Partfc:ular,s
Y u : - ~ lf-MM'-19
,_
442.61 {15a.99j (l!J.23) 12..Jl n.25 u.,.ca (229.18) Z1l.4l 13.'<?} 0.'11 (2.5:) Z15.9-4 Rs.!:, Lakhs 31-Mu-19 2,918.40 la.5.07 10.ll !(.SC) (10!.75) (25.◄1) 2Sl.66r
10. n... Ccmp.lny Nd made prov1slon for t&Jc In tho pn,vtou1 ya1r by applylna Incorrect rat• ol w wt,li. calculatln1 the LM on apltal pins on Illa of aqr.,tty lnstrume,,ts which was duly r.ctlflctd wf11l• mt,. tncom• tu rfturn. The ume NII been rectlllctd In tho Q.WT•nt v-ar 1,/ rnut1n1 tho p,rtlous ,,_., • ~ rnultlns In r.wnol ol c,,u:es, pn>Yillon of taxn and 1v1lllna of MAT credit 11srept1n1 ol Rs, 28."9 l..llchs In-tine with lN rec:,utrenwnt cl Ind AS-I "Acccu,tlna Policies, ChanlOI In Account1n1 E1tlm.tle, and Errors",
11. COVI0·19 wf11ch NI> bnn declarctd 1 1lobal l)llldemlc contlnun to IPf'"'ld across UM! alobe and hu Ire! to an unprecedffltld ie.et ol disruption on >Odo,
c,conomlc acttvltlrs. Th• Government ol lndfl h.ld anl'IOUllced I series of lock•down from March 2◄, 2020 which wu .. nendctd unttl arty JunC! 2020. Beause at economic dioruptlon, RBI ret .. a~ 1uldellncs rellt1n1 to COVID•19 Re1u11tory Packlae dated .Y.Atth 27, 202D, April 17, 2420, and May 2l 2020. In a«ordana with thow 1uldtUne1, the company Is arant1n11 1 rT'IQl'atorlum to borrowen on the l)lyment of all lmta1tn<'nt1 and I or lnteres1, 11 appUcable, falllnt due ~ March
1, 2020 and Auaust )1, 2020 to all ell1lbl• ~ • baled on the request,. Ac.a>rd1,.1y, for all JUCh l«OU'llS whffe morau,rlum ha been arantld, the IU1"lbl!1' ol
day, past·dUO' shall ""elude the moratorium period for !he purposes of asset dmlflallon under the Income Recotnltlon, AsMt 0.111fflcatlon and PrO'tl<lanlna
'°'""
u well as for sta1lna ol those accounts for Impairment 1011 allowance under Ind /IS.
The recent directions from UM! Cioffll'lment allows for aradual withchwal of lockdown and partial resumption ol eoonomle actMry. ~ . major eo:,,omlc; centres are sttll contlnutnt to be under partial lockdcMn. There IJ a hllh 1-1 of uncertainty about the dJratlon of the time required for life and buslnns to pt normal. The extent to which COVll>-19 pandemic will Impact the Company's operations and lln&nclll rnults Is ~ndent en the future defflopments, which are
highly uncertain, lncludin11 amon11 many the other thlnas, any new Information toneemlni the 5eVef'1ty of the pandemic and .ny action to c.ontall'I tu spread or
mitigate tu Impact whether government mandated or elected by the company.
In preparln1 the accompanying financial statements, the CornP111Y manaaement hu been requfrrd to make Judsements, estimates and imumptlors that allect the
application of pol~ and reported amounts of eflets, U1bllltle1, equity, incomo! and ~ . Thne estimates and u,oclated assumptions, rspec:lally tor
Impairment loss allowance under Ind /IS 109 of UM! Company's loans, ere basrd on hlstoncal e,cperience and various otllCf" factors lnctudlns the po,sl,te effects that may result from the pan~mlc. lMW Mtlmatff and associated assumptions are believed to be reason,ble under the current clrcumstarlcti. In the - t the Impacts are more severe or protonaed than antlclpatQd, thl'i wlll h -1 C01Tespond1ng lmpltt on UM! car,ylnt value ol UM! loans, the financial position and
12, In terms of the requirement as per RBI notification no. RBl/2019·20/170 DOR (NBFC).CC.PD.No.109/22.10.106/2019·20 dat9d March 13, 2020 on lmp(emenUtlOn of Indian Accounting Standmls, Non-Banking Financial Compan~ (NBFCs) are required to create an Impairment resene for any short/all In Impairment~ under Ind /IS 109 and Income Recognition, Asset Ctasslficallon and Provisioning (IRACP) nonns (lncludine provision on standard llflets). The Impairment allowanas under Ind />S 109 made b-t the Company exceeds the total provision required under IRACP (Including standard asset prorislonfoSI, as at March 31, 2020 and
accordingly, no amount 11 required to be transferred to lmpalrme,,t reserve.
1 l. Fiaures for the pre\'lo\n periods ha~ been regrouped wherever necessary, fn order to maq them ~rabltt.
Mumbai, June 15, 2020
For and on behalf of the Board of Ohanvarsha Flnvest Llmtlfd
Joint Managing Director DIN: 05285546
'i
)
/d7~;::
RohanJunc,jo
~
Joint Manatlll!I Director DIN: 083-42094
HARIBHAKTI
&
CO
.
LLP
Ch
:u
l
cr
et
l
;\C(OUOl;Jnl~INDEPENDENT AUDITOR'S REPORT
I I
I
I
To
t
he
Board
of
D
i
r~to
rs of
Dhan
varsha
F
l
j
es
t
u
1
ited
I
II
I
Report on th& Audit of th• Consolidated Flnarclal ~-Juttsl
Opinion
I
JI .
JWe
have
aud
i
ted
t
h
e
accom
pan
yi
n
g
consolidated annual
financia
l
res
u
rts
of Ohanva
rsh
a
Finvest
1~
i
ted
I
(he
r
ei
naft
er referred
to as lhe~
Hold
i
n
g
Compan
y'°) a
n
d
1i
tS
su
b
s
i
c
fi
a
~ {t
h
e
Holdi
n
g
c
'om
pan
y
1snd
i
ts
s
ub
si
d
iary
t
o
gether
refe
rred to as
•the
Gtoup"
) for
th
e
yea
r
ended March 31,
2020
\
t
h
e
State
m
e
n
t"),
attached
h
e
rewtth
,
be
i
ng
submilled byt
he
Holding Company pursvent lothe
requirementor
Regulation 33of
the SEBI (ListingObliga
tio
ns and Olsd
o
sur&
Requirements) Regulations, 2015, as
a
mended
('listing Regu
l
ations
'
)
.
I
n
our opinion and to
t
he
bes
t
of
our
I
n
fo
rmation
and
aooord
in
g
to
the
o
~
l
a
nat
ions
g
i
ven
to
us
,
t
h
e
afo
re
sak:I
statement
(i)
inc
lud
es the a
n
n
u
a
l
finaoo:i
aJ resu
l
ts
o
f
the
f
o
l
lowing entities:
Sr. No. Name of the Entity Relationship
I
O
h
a
n
varsha
Finvest
L
im
ite
d
Ho
l
d
in
g
Compa
ny
2
O
FL
Technoioglas Private
li
m
ited
S
u
bs!d
jary
(ii
)
i
s presen
t
ed In accordance
with
the
require
ments
of
Regula
tio
n
33
of t
he
Listing
Regula
tions
I
n
this
regard;
and
(Ill} glvM a
tr
ue
and fai
r
viewin
con
fo
rm
ity with
the
recog
n
itio
n
and measureme
n
t pri
n
ciples
la.id downin
theapp
l
icable accounting
sta
n
dard
s
,
an-d
other accountin
g
pri
nc
ip
l
es generally accep
t
ed
I
n
In
d
i
a,
or
the
consolidat
ed ne
t
profit and
other
c
omptehe
ns
ive
income
and
other fin
a
nc
ia
l
in
f
ormatio
n
o
f
theGroup
for
the
ytt-ar
e
nd
ed M
a
rc
h
3
1
,
2020
.
easts
for Opinion
Wo conducted
oo
r
audit
i
n
aooordance
with
th
e
Sta
n
d
a
rds
on A
u
di
t
i
n
g (SAs} specified
u
n
der Sectio
n
14
3(
1
0)
of
the
Com
p
anies
Act,2013
("Acf)
.
OU
r
respo
n
sibilities u
n
o'er
thos
e
S
tan
dar
ds are fu
rther
descr
i
bed
i
n
the
Aud
i
tor'
s
Respons
i
bili
ties for
theAudli
o
f
the Conso
l
idated
Financia
l
R
esu
lts sectio
n
o
f
ou
r
repon.
we a
re
i
n
dependenl
ofthe
Group
in
accotda
n
ce
with
theC
ode of
E
thics issued
b
y
th
e
lnstlt
u
t&
of C
h
artered
Accou
n
tants
of
l
nd'43
("I
CAI'
') together
with
t
he
ethical
requ
i
re
m
ents
t
hat
are
re
l
evant
to
our aud
i
t
of
th
e
S
t
a
t
ement
u
nde
r t
h
e p
ro
vi
sions
of tho
Acta
n
d
theRule
s the
reu
n
der,
a
n
d
we h
av
e
fulfified ou
r
other
ethical
r
esponsibil
i
t
i
es
in
accor(Jance
with
the
se req
u
i
re
m
ents a
n
d th
e
Code
of
E
t
h
i
cs.
We be
li
eve
th
a
t
the
audit
evidence
obt
a
i
ned
by
us
is
sufficien
t
and appropriate
to
prov
i
do
a
basis
f
or
our o
pi
n
io
n
.
Emphasis of Matter
We draw attonUon
toN
ot
e
12
to t
he
accompa
n
yin
g
S
t
atement. \vhich
e
xp
l
a
i
ns
thatt
he
exten
t
to wh
i
c
h
COV
I
0-
1
9 p
andemi
c
w!II
Im
p
act
on
th
e
Group
's operations
a
n
d
financial
resull'S,
is dependen
t
o
n
future
developments,
w
hk:h
a
r
e
h
ig
h
ly
u
n
certa
it
mOdified
i
n
r
espect
of
this m
a
uer
.
II &
eo.
u.,. O\&•lel'cdJ.tC(Ul(,)l'>li Pieari, No, Ml.• 31M, i tkrolltd ltlbltlty~nt,tnh"l,ptfilUttC'd In Ind!,) (<otM:nC'dO:'I '71hJ
-.
2014rrom fitm ~ !'lbll,1<1U1 Co. rR11: 111J$1JW)
R"'llnttOcl O!fl(,r. 10S. lt'N &i,incu h 1',J.ncl!lN~t:1.Wt.111.o,c!. Mdhffl (tl.~.l»I • 4CO WJ, in:,~. ld:•91
n
66n 999?h•:•,I U '611 91nHARIBHAKT
I
&
CO
.
LLP
Charl<.'1ed Accountants
Board of Directors' Responsibility for tho Consolidated Financial Result$
This S1atement has been prepared on the basis of the consolidated annual financial statements. The Holding
Compa
n
y
's
Board
o
f
D
irectors
are
respons
ible
for t
h
e
prepa
r
ation and
p
resenta
tion of this
Statement tha
t
give
a true ancf fail view
or
the consolidatGd net profit and other comprehensive income and other financialIn
formation
of theGroup
In
accordanoe wit
h
the
recognition and meas:urement princlpl
e,s
la
i
d down
i
n the
Indian Accounting Standards presoribed under Section 133 of lhe Acl read with relevant rules Issuedthereunder and other 8000Unting pcinclptas generally accepted in India and In compfmnoe with Regulation 33
of the
ListingRegulations.
The
re-spective Board of
O
i'
ectors of the
co
m
panies
i'l
clud
e
d
i
n t
he
Gcoup are
responsible for malntenanc& of adequate aooounting records in aooordance with the provisions of the Act forsafeguarding of the assets of the Group and for preventing and detecting frauds and othet lrtegularities; selection and application of appropriate accounting po{ICIM; making judgments and estimates that ere
reasonable and prudent; and
the
design, implemeotation and mainteflance of adequate internal financialoontrols, that YI-ere operating effecttvely for ensllfing accuracy and comp!eteneH of the accounting recotds, relevant to the p,eparation and pres.entation of the respective financial results that give a true and fair view
and are
free from matetlaJ miss.tatement. whetherd
ue
tofraud
orerror
,
whichhave
been
u
sed
forthe
purposeof preparation of the Statement by the Directors of the Holding Company, as aforesaid,
In preparing the Statement, the respective Board of Directors of the companies inciuded ln the Group are
responsible for assessing the ability of th& Group to continue as a got,ng ooocern, di$doslng, M applicable,
matters
r
e-lated
to going concern and using the going concern basis of accounting unless the respective Boardof Directors either intends to liquldate th~ Group or to cease operations, oc has no realistic a1temative but to do
so.
The respective Board of Olrectots of the companies included in the G<oup are responsible for overseeing the
financial reporting process of the Group.
Auditor's RetponsfbUitie& for the Audit
of
the Consolidated Financial ResultsOur objectives are to obtain reasonable assurance about 'litie.lher the Statement as a whole are free from
material
misst.atement.whether
due tofravcl
orer
r
or,
and
to i5suea
n
audtto(s report that i
ncludes our opinion. Reasonable assurance is a high level of assurance., but Is not a guaranteet
ha
t
an audil conducted In accordance with SAs wlll always detect a material misstatement whenit
exists. Misstatements can arise from fraud or error and are considered materialif,
individually or in the aggregate,they
could reasonably be expected to influence the economic decisions of users taken on the basts of this Statement.As
part of an audit in accordance 'With SAs,we
ex&rcise professional judgment and maintain professionalskepticism throughout the audit We also:
• ld:entlfy and assess the risks
of
material misstatement of-the Statement, wtlether due to fraud or error,d8sign and perlorm audit procedures responWe to those risks, and obtain audit e-vldence that Is sufficienl and apl)(Opriate to provide a basis for our opinion, The risk of not detecting a material misstatement
resuffin9 from fraud
is hig
her than for one resulting from error, as freud may Involve coUuslon, forgery, lntentionaJ Omissions, misrepIMentations, or the override of internal control,• Obtain an understanding of internal contrOI relevant to the audrt In order to design audit procedures that are appropriate
ln
the circumstances. Under Section 143(3){i) of theAc
t
,
we
are also responsible forexpressing our opinion on whether the Holding Company has adequate Internal finanolal controls with
~
4
o fi'lanclaJ statement$in
plaoe and the operating effectiveness of such oontrols.!I,~
C.
"" <'. ~....
*
'=;
&
~
~Ell•~~
I-IARI
B
liAl(TI
&
CO
.
LLP
C
l1
1
u
l
t
•
1,•
c
l
1\r
n
n
mu
,
nlt
•
•
Evol
u
ot
o t
h
o appropr
l
o
lo
no
ao
o
f
nccou
ntl
n
o
poll
cl
ot
u
sod
a.nd
lho reasonableness
of
accountfng cslimate!I
1111d
rolal
od
dlsc
l
osuro• modo by
tho
Board of Olroctor&.
•
Concludo
on
tho oppropr
l
a
to
nos.s
of
tho
Bowd of D
ire
ctors
use of tho
goi
ng
concern bas/$
of
accounting
and
,
based on
tho
a
u
dfl
evldo.nce obta
l
ned
,
wtiothe
r
a
materia
l
u
n
ce
rtainty
cxfsls
related
to
events or
cood
itlon
s that may
cast
slgn!Oconl
do
u
bt on
lh
•
ab
ility
ol
lh
e
G
r
oup
l
o continue
as
a going
concam
.
rr
we
conclude
th
at
a ma
to
N!l
uncerta
i
n
ty
o
xi
sls, wo
are
,
eq
u
ire
d to
draw
atten
llon
in
our
a
u
ditor'& report
to
the
ro!ated
dlsc
l
osures
In
theStatemen
t
or, I
f
s
u
ch disclos
u
res
are
Inadequate,
to
modify ou
r
opinfon.
O
u
r
conc
lu
s
l
ons a
re
based
on
the
a
udit
evi
dence obtained
up
to
the
date
of ou
r
audftor's
repon
.
Hovtever
.
f
u
tu
r
e events
or
conditions
may
cau.se tho
Group to cease
t
o
con
li
n
u
a as a
going
con
ce,n
.
•
EvaJuato
the
ovora
l
l
presen
tation
.
struct
u
r
e aod conte
n
t
of the Statement, lnc!Udfng
the
dlsck>su
,
es,
an
d
whether
the
Statement represen
t
the
u
nderlying transactions and eve
n
ts
I
n
amannor
that
achieves
tailp,ese.nt
a
tl
on
.
•
Obtain
suffickm
t
ap
pro
pria
t
e a
u
d
i
t
ovfdence
r
egard
i
n
g the
ftnaneia
f
,esu11s
of
the entit
i
es with
i
n
the Group to
express an opinio
n
on
the Stat
ement.
we
are
resp
o
n
slb!e
f
or
th
e
d
i
recti
on,
s
u
peMSio
n
and
perfonnan
ce
o1
the audit of financial
i
nronnetion
of
s
u
ch entitk:ts
J
n
ct
uded
in
the Statement.
We ,-ama
i
n solely
responsible
for our
audit op
i
n
ion,
We c;o
m
m
unlcate wi
t
h
thos& charged
'Mlhgovernance
of
theHok:lf/'19 Company
and such
other entities
Incl
u
ded In
th
e
S
ta
tament
reg
ard
in
g
,
amo
n
g other
matters.
the
p
tan
n
ed scope
a
nd
liming of the a
udi
t
and
significant audit
findings,
i
nc
lud
ing
a
ny
significan
t
deficlencies
in
lntema
J
controJ
that
we
identify
during
ou
r
audit.
We
a
lso provide
those charg,ed
with
govetnance
with
a
sta
t
ement
tha
t
we.
h
ave
complied
withrclevant
ethkal
requi
remen
t
s reg
a
tding
independe
n
ce. 3nd
to
commu
n
icate
with
them all
relatioflships
a
nd
othe
r
matters
that
may
reaso
n
ably
be
thou
gh
t
to
bear
on
our
incfe
pende.nce,
a
n
d
whare
applicable
,
r
e
l
a
ted safeguards
.
We
al
so peno,
med
prooed
u
res
In
acoorda.nce with
th
e
citc
u
tar
I
ssued by the SEB
I
unde
r
Regu
l
ation
33(8
)
o
f
the
L
isti"9
Regulations, to the
exle
n
t
applicable
.
Other
Mattersa)
A!Sstated
in
Note 4 to
th
e
accompa
nyi
n
g
S
tat
emen
t..
the comparative
fi
na
nc
ial
i
nfonnation
for
lhe
qtJarter and year ended
M
a
r
ch
31
,
201
9
pertai
ns
tothe s
.
tandalo
ne fi
nancia
l
resuits
fo
r
the
same
perio
d,
s
in
ce oonsoti
d
aUon was
appOcabl
e
to
the Hol
d
i
n
g
Company
o
n
ly
after
the
sote s
u
bsidiary
was
formed
duri
n
g this year
.
Hence
,
previOus period figures are
not
comparab
l
e
.
b)
;b
e comparative
financia
l
I
n
formatio
n
of t
h
e Holding Co
m
pany
f
o
r
the year ended Marc
h
31
,
20
19
w,
cluded
in t
he
Statement, are based on
the
previous
l
y issued standalone fina
n
c
ial
results prepared
i
n
acc01dance
with
t
he Companies (Acoou
n
ting S
ta
ndards) Rules
.
2006
a
ud
ited
byus
whose
,eport
fot
the
Ye.ii
'
e
n
ded
March 31,
20
1
9 dated May 22
.
2019 exp
r
essed
an
u
nmod
ified
opinion
on
those
sta
n
dalone
fi
n
ancia
l
resu
l
t
s
, as
adjusted f
or
thediffetencos
In
the accoun
ting
p
ri
nciples
adopted by
the
Company on transition
t
o
theI
nd AS, whic
h
have
been audi
t
ed
b
y
u
s..
~'Ii
~
*
~
HARIBHAl<TI
&
CO
.
LLP
C
h:
11
t
crcd
Ac
co
u
n
t
ant
s
c)
The Statemen
t
i
nc1udes
the
r
esu
lts
for
th
e quarte
r
ended March 31, 2020, be
i
ng
lhe balanc
in
g figure
between audited figu
r
es
in
respect
of
full
fin
ancia
l
yea
r
a
nd th
e
publis
he
d unaud
ited
year
t
o date
figu
res up t
o t
h.e
th
ir
d quarte
r
of
the
curren
t
fina
n
cial
yea
r
which were s
u
bject
to
l
i
m
ited review
b
y us.
For
Haribha
k6
&Co.
LL
P
C
h
artered Aooountants
e<,1
1Str
alio
n
No
.
1
03523WIW100048
i
--'<-l
Nyatirship
No
.: 11
8970
UO
I
N
:
201
1
8970AAAAC
T
5882
Place
:
Mumbai
D
a
te:
J
uoo
15
,
2020
Dh1nvarsha Flnvnt Llmltld
Rcstsiered office:• 2nd floor, llulldlnt No. ◄, DJ House, Did Haprdu ROM!, Andhat1 (Eait), Mumbai• ◄00069, M.lhwnhtn,
hi:• +91 22 6145 7200, EtNII ID:• conuctedlltd,ln, W•blit.:• www,dflld,ln CIN:• l2◄231MH199◄Pl.C33◄◄'7
STATEMENT OF CONSOUDATID FINANOAL RESULTS FOR Tl!E QUAfflft AND YEAR ENDED M.U.CM l1, 2020
(Rs. In Ulklll)
Quilt« Ended VeuEnded
P1rt1cu1An 31-l,\ar•20 l1-l>ec•19 31•Mar•19 31-Jur-zo 31..iu,.19 (Audited) (Unaudlt.d} (Audi~ (Audited) Audited)
Re~nue from operations
I Interest lnrom., 133.29 14).71 235.32 612.80 928.]7
ti Fees and commission Income 43◄.8◄ 3◄9.71 251.◄2 1,U0.6l 161.31
Iii Profit on sal., of lnwstments including cllanse In fair valu.. iialn/loss 2.76 1,35 2.83 8.16 96.69
Iv Othen I.to 17.8◄ 2.11 28.98 16.IO
I Toul RltVIHWe from 0~1tlon• 571.99 512.61 ◄97,61 1,910.57 1,903.2◄
II other lncom• 13.21 0.26 0,37 11,11 26.01
Ill Toul Income (1+11) 515.27 512.87 ◄91.0S 1,929.38 1,929.32
E,q,itnse
i Finance costs ◄1.59 32.59 111.21 168.59 517.67
It Fres and commlmon expense 0.57 0.12 0.95 0.79 0.96
m Net toss on fair value changes .
.
.iv Impairment on financial instruments (expected cn!dit loss) 129.20 (26.65) (92.71) 33.67 290.22
V Employee benefits expenses 208.78 168.60 173.30 701.8◄ 516 . .C.C
vi Depred.ltlon and al'IIOrtlzation 22.14 10.22 9.9) <48.n 16.60
vii Other expenses 132.7◄ 121.26 52.87 421.◄7 J◄◄.n
IV Tot.al Expenses 535,02 306.14 255.55 1,375.011 1,616.61
V Profit before tax (Ill • IV) 50,25 206,73 242.50 554.30 242.71
V1 Tax expense:
I Current tax 51.33 ◄5.79 8.13 1n.s2
106.63
Ii Deferred tax (26.55) (3.61) .C.C.02 (16.99) (77.35)
iii Tax adjustment for earlier years (7.32) (7.32)
VII Profit after tax (V • VI) 32.79 164.55 190.35 406.09 213,43·
VIII othe~ Comprehenst~ Income .
I Items that will not be recwstfled to profit or loss (1.66) . 3,◄8 (1.66) J.<48
ii Income lax relating to items that will not I)., reclassified to profit or loss 0.46 (0.97) 0.46 (0.97)
Other c.cmprehensfvr lnc:ome, (1,20)
.
2.51 (1.20) 2.51 IX Toul comprehffls!ve Income (VII+ VIII) 31.59 164.55 192.86
-404.89 215.94
X Petd up equity share capital (fac., value of Rs. 10/· per shar.,) 1,350.78 1,350.00 1,350.D0
1,350.78 1,350.00
XI other Equity
1,764.53 1,314.74
XII Eamtnp per equtty lhare (Hot annualls.d for the tnterfm period,)
Basic (RJ.) 0.2◄ 1.22
1.58 3.01 t.n
Dllut~ (Rs.) 0.23
1.13 1.52 2.8) 1.71
I
Not"'·
1. ST~TEMEKTOf CONSOLIDATED ASSETS AHO LIA8IUTI£SAS AT MAllOI 31, 2020
As At 31-Mlr-20
Pattlculan (Audited)
ASSETS
1 Flnancllls Au•ts 170.14
(a) Cash and cash ~lents 177.94
(bl ~ k ~lances other than (a) above 118.17
(Cl Trade Receivable 3,2!5.52
(di Loans 121.◄I
(el lnve5tmenu
(f) Other Flnanclab Assets J3U9
◄,220.77
2 Hon Financials Assets
(a) ~ t tax a=ts (net) ◄1.67
(b) Deferred Wt assets (net) 188.21
(cl Property, plant and equipment 189.-40
(dl Capital Wock in P r ~ 25.M
(e) lntan&ible assets under development 11.51
(fl Other lntan&ible assets 142.87
Ii) Olher non-financials anets 27.51
fhl Hon•ament assets and disposal groups held for sale .
627.01
TOTAL ASSETS ◄,1147.78
II LIABILITIES AND EQUITY
LIABILffiES
1 Flnanclll LlablllUes (al Trade pay.ab!"'
I) total outstanding dues of micro entffl)flses and small entffl)flsa 9.20
II) total outstanding d\Jes of a-editors other than micro enterprises and small enterprise 27.2◄
(bl Borrowinp (Olhef" than Debi Securtlle)
(Cl Other financial llabllltles
2 Hon•Flnancial Llabllltt . .
(al Culffl!t Wt Uabillties(Nell
(bl PrO'ilslons
(cl Other non•financlal liabilities
EQUITY
{a) Equity Share capital (b) Other Equity
TOTAL LIABILITIES AND EQUITY
1,560.75 36.26 1,633.◄5 13.29 2◄.8'1 ◄0.89 99.02 1,350.78 1,764.53 3,115.31 ◄,1◄7.71
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I• ""'C! ,,rO_./, ~~ (Rs. In L&kt>s) Al At 31-Mar•19 (Audit-«!) 362.04 17.55 0.65 ◄,516.◄7 . 1.54 4,891.25 37.71 m.90 29.65 65.07 46.97 21.32 55.33 ◄79.95 5,371.20 6.10 17.27 2,541.32 -41.19 2,612.18.
12.97 87.61 100.58 1,JS0.00 1,31◄.7◄ 2,66◄.7◄ 5,J7L20 (Page2Jf
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(?.C-... ➔ -~ g.:s.,zJ, ;-n.c· ~ I ]iQ.0C I T'!sEl:dlr: :n...?~ ~ ~ I i:..;,; -lQ.OC ~J. SCGMEIO'•WISE R.EVEHU[, llOULTS AND CAl'ITAL EMPI.O'ft:D
(lb, In ~It/ls)
Quuter Ended Yurt'.nded
Pattlc,,ilan J1-Mlr-20 Jt-O.C-19 J1•M.--19 Jt-Mar-20 JI-Mu-19
(Auclt..s) (Unaudited) (Audited) (AudftlfdJ (Audllad)
I s . - , t R . - , u a
• Fund ~ Activities 512.10 -47◄.11 295.:M 1,677.06 1,ll◄,66
• Ad-,;so,y Se<vlce (10.111 31.50 202.14 2l3.51 768.)8
Total 571.99 512.61 497.61 1,910.57 1,90J.24
less : lntff ~ I ReYenue
.
.Rewnue from Operations 571,99 512.61 497.61 1,910.57 1,90).24
II Sep,enl Results
PrDllt/(lossl t.fore Tax rrom each ~ t :
• Fund Based Activities 94.67 215.52 123.86 512.99 (402.20)
• Advisory Semces (25.1!0) 10.78 tl◄.6-4 9).27 6-41.90
- ~
Total 61.17 226.3D 251.50 606.26 239.70
Unallocable lnoome/(Expendlture) • net (15.80) 11,.5n (16.00) (◄9,15) 3.01
Profit before Tax 5J.OI 206.73 2◄2.50 557.11 2◄2.71
Less: TaxM 20.29 ◄2.18 52.15 151.02 29.28
Profit an.,.. Tax 32.79 164.55 190.35 406.09 21J.◄J
Ill CapftAI Employed
Sep,enl Aueu
• Fund Based loctivities ◄,239.◄5 ),IIS2.90 4,761.22 ◄,2l9.◄S 4,761.22
• Advisory Services 29.67 2◄.)5 19.98 '1.9.67 19.98
• Unaltocaled 578.66 ◄05.41 597.00 578.66 597.00
4,847.78 4,312,66 5,378.20 4,847.78 5,371.20
Sep!lfflt Uabllltln
• Fund a.sec, Aethlltles 1,66-4.n 1,200.20 2,636.14 1,664.73 2,636.1◄
• Mviscty s«vlces 15.91 35,27 26.62 15.91 26.62
•Urialloated SI.SJ ◄l,55 50.70 51,Bl 50.70
1,732.47 1,277.02 2,713.46 1,732.◄7 2,7U,◄6
4. The above mats represent the con,oltdated f'lll&ndll results or ONnvusti. Flnvest limited and Its aiMldia,y •"DFL Tecflnolocy Prtvate Umlted"" formed In Oct.obe' 07, 2019 (the Parent and its ,ut,s1dlary toe,!tller referred 10 as -ui. Groo4>"1, hen~ p<eYiou1 PffSOds f9,res pe<talns to the standalone flna~I te'SIA.ts hence we not comparable.
5. The Group has adopted Indian Accountln1 Standards find AS') notified under Section 133 of the COIT'C)lnfes Act 2013 ('IN Act') read with the COIT'C)lnles (lndlan
AGcounlln1 Standards) Rule-s, 2015 from April 01, 2D19 and the erfectlYe dll•or the =Ilion Is Apnl 01, 201a. ~ transition 1w been amed out fron the ..-stwhlle
AealUnllnl Standards notified under lhe Act, rNd with rel@'fant rules Issued thereunder and aufdellnes Issued by the ~ Bink of India (Colledlwly rdfflld to u
"lhe PreYious G.u.PJ, The corresponc!in1 flp,res presented In t ' -tfnandal resi.Cts 1,a.., been prepared on the basts of the pr'e\'fomly published ffnanml results W\dff previous GA»' for lhe relevant periods, duly resuted to Ind ~-The fil,llJres have been presented In accordance with the format prescribed for flnlnci.l sutements for
a Non•8anki03 finance Company (N8FCJ YfflOSC financial sta:ffllef'lts are drawn up In compllaru of the C0q>1nles (Indian Aotounttn1 Standards) Rllte,, 2015, In Otmlon Ill of Nolftlcatfon No. GSR 1022 IE) dated October 11, 2Dl8, Issued by the Ministry of Corpotlt•Affan, GoYefM!ent of lndii.
6, The above flnanclal results were reviewed by the Audit Committee and approved by the loud of Ofreaon At Its Meetfnl held on .lJne 15, 2020. The Statutory Auditors of the Company have carried out audit or the ar0tesald re1Ults and 1111 fs11Jed a report !hereon.
7. The lltures for the last quarter of the C111Tent financial_,. and for the l)ft"t!ous financial ye.ar are the bllana,a f1iures ~ audited o.,.-es In mpect of lhe
full financlal year and lhe published year to dale figun,s 14> to the end o( third quarter' of the curent and pre,,fous Onandal )Mt whidl we, IUbject to limited rnlew
by the SUtuto,y audflon
a. fee and commission lnaime maJ0tly Ind~ commls:s1on from syndlallon loan.
9, J.1 n,qufred by par•r•ph 32 of Ind AS 101, net profit recandllatlan between the fl.,...-n r_,,..., under Pr-.. GAU and Ind AS II n _ ,
Quart...-[nded YNr[nd.d
P1rtlculars Jl-Mar-19 31-lur-19
(Audli.dl CA1ldllad\
Net Profit as per l<..V.P (A) 53.14 44L61
Add/(len): Ind AS 1dJu1bnM!ts
• loan loss provlsfonlns as per ECL model 97.44
(151.991
• Fair valuation of Equ'ty Shares (113.13)
• Others 50.9) 12.ll
• Deferred tax on the lboYe adjustments («l.3-4) n.n • Restatement of previous year tax (Refer Note No 11) l&.-41 11 . .a Tot.ti AdJu>lmmts (D)
136.51 (229.11)
Net profit as per Ind AS (C) • (A·D) 190.35 21J.43
Other Comprehensive l:icome
• Remeasurem9!1t of ~lned Benell! scheme (3.41) (3.<C!)
• locome tax ori above 0.97 0.97
Total other comprehensive Income (D) (2.51) (1.51)
Comprohenslv,(lncome as per Ind AS (C-0) 192.16 215.94
10. AJ. required by paravaph 32 of Ind AS 101, reconciliation 01 equity as reported In accordance with Prmous GMP and lndAS1sastnler:
(Rs. In l.ald!s)
P&rtklllars AsM
31-Mar-19
Equity as per IGAAP (A) 2.911.40
.
(AddYLes.: Ind AS adjustments
.
· loan los, provisioning as per ECI. model 385.117
• Fair valuation of fq,stty Shar,,s
• loan upfront fees recognition as per EIR model 10.33
· Interest RecOBrlltion on Credit impaired assets (4.50)
· Deferred Taxes on the above adjustmmts (108.75)
'
• Restatement cit pre,1ous year tax (28.49)
Total Ind AS ad)ustm•nts (8)
253.66
.
Equity u per Ind AS (A•B)
2,664.74
11. The Group had made provision fa,- tax In the previous year by applyins Incorrect rate of taX while gladatilli the tax on capital gains oo sale o( ecJJity instruments
which was duly rectified while filing income tax return. The wne has beffl rectified in the aJrTent year by nestatin! the PfC"(ious year fipes, resati111 in ~ I of excess pr0Y1slon of taxes and availing of MAT aedit aw~tinil of Rs. 25.491.akhs In-tine with the requirement of Ind AS-& •A«rJunt;ns Policies, C1w1ftS in Accxulting Estimates and Errors". j